In business, demands are constant. Keeping up with them is often the difference between profit and loss, or a five star review and a complaint.
Productivity is a struggle for businesses of all sizes. The smallest of small businesses might lack the manpower to sift through information, whereas in a multinational corporation, there might be too much of it to know what to do with.
Either way, quality accounting software can help. In this post, we’ll look at five ways that you can use Sage accounting software to increase your business’ productivity.
1. Tracking Expenses and Income
Anyone who’s tried to wade through statements to record a single line item will know how tedious manually tracking income can be. With the ability to capture expenses information via batch entry, or even remotely, software keeps you organised. This could save you the reported 4 hours that’s spent on unproductive work a week. What’s more, you can create authorisation processes – completely eliminating human error, and having far less chance of having to remake important documents.
2. Increased Cash Flow
You could send out payment reminders via email. But if you’ve got hundreds of customers, the cycle and the overflowing drafts folder can get old fast. Accounting software entirely automates this process – not only sending out automatic reminders, but also tailoring these to specific customers. It all adds up to a higher chance that your business will get what it’s owed on time.
3. Tracking Inventory
If your business is larger – or looking to grow – chances are you’ll have stock in different locations. This can make it hard to keep everything topped up. However, business accounting software allows you to manage all your stock on one platform, with reminders and product tracking saving you time, money, and effort. What’s more, you can also choose to control stock items by specific metrics like sell-by and use-by dates, and work with quantities. This means your process can show how you buy tiles by the pallet, store them by the box and sell by the square metre, without you having to make manual changes for each one.
4. International Business
Spare a thought for those businesses having to work internationally with manual processes. Adjusting the currency of every invoice, every time is mentally draining – but business accounting software can do this as standard.
For example, Sage Intacct lets you manage complex financials for global entities using its general ledger – this cuts your consolidation process down to seconds rather than hours.
Doing business across borders has never been so easy!
5. Data Security
It doesn’t take an IT specialist to understand the importance of keeping your data secure. But relying on already stretched salespeople and accountants to do this perfectly when they’ve got so much else on their plate isn’t the way to go. Next-generation accounting software takes the guesswork out of this, preventing privacy breaches and data loss that may severely damage businesses in the long-term.
Though accounting software won’t solve a business’ productivity problems on its own, it can form part of a versatile toolkit. This can be deployed in many different situations, helping it achieve today and into the future.
Whatever you need from your accounting software, Sage and PKF Smith Cooper Systems have you covered. Contact us today, via the enquiry form, to discover how you can increase productivity using Sage Accounting Software.
Interested to know more about our Sage solutions?
Call 01332 959008 or enquire online today
"*" indicates required fields